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Amsted Automotive US-Based Manufacturing Minimizes Tariff Risks for Automakers

Amsted Automotive US-Based Manufacturing Minimizes Tariff Risks for Automakers

SOUTHFIELD, Mich., March 20, 2025 /PRNewswire/ -- Amsted Automotive leverages its global automotive manufacturing capabilities to maximize efficiencies and minimize costs for automakers. This includes 13 US-based manufacturing facilities producing the majority of Amsted Automotive's more than 100 million components and assemblies annually. Amsted Automotive has facilities in Europe, Asia, Mexico and Canada, producing parts to the same specifications and quality, allowing Amsted to supply customers in their region of production, minimizing cost and time.
'It has always been Amsted's strategy to manufacture in the customer's region,' said Bill Kerfin, President of Amsted Automotive. 'Having local engineering teams and manufacturing facilities improves efficiencies and minimizes costs, which is especially true today with quick-changing tariff policies.'
Amsted Automotive is comprised of these US-founded and based companies: Means Industries Inc., Transform Automotive LLC, SMW Manufacturing, and Burgess-Norton Mfg. Co., Inc., that engineer and manufacture components used by nearly every global automaker, as well as industrial manufacturing companies around the world.
These products and capabilities include electro-mechanical clutch solutions for electrified, hybrid and ICE propulsion systems; award-winning powder-metal technology; and market-leading metal-stamping and cold-forming and finishing capabilities. Amsted's range of experience includes gears, brake pistons, piston pins, suspension and chassis components, coupler components, road rehabilitation & milling/miner bits, electric motor housings, hybrid and EV battery trays, and more.
Burgess Norton has two facilities in Geneva, IL, and one in Beaver Dam, WI. Burgess Norton manufactures powder metal components and piston pins for automotive, commercial and industrial markets.
Means Industries has one facility in Saginaw, MI, and is a manufacturer of electro-mechanical clutches used in transmissions and e-axle disconnects for the automotive, commercial and industrial markets.
SMW Manufacturing has two facilities in Belleville, MI, one facility in Munith, MI, one facility in Taylor, MI, and one facility in Oxford, MS. SMW, a Burgess Norton company, manufactures cold-formed components for the automotive, industrial and commercial markets.
Transform Automotive has two facilities in Saginaw, MI, one facility in Sterling Heights, MI, and one facility in Shelby Township, MI. Transform manufactures advanced metal formed components for automotive, commercial and industrial markets.
About Amsted Automotive
In 2021, Amsted Automotive brought together Means Industries Inc., Transform Automotive, SMW Manufacturing, and Burgess-Norton Mfg. Co., Inc. to form a new and innovative technology team. The integration provides an expanded global presence with 21 facilities in North America, Europe, and Asia to serve the global automotive, off-highway and mining industries with a robust manufacturing footprint, producing over 100 million components and assemblies annually. The team combines design and engineering expertise, strategically aligned to be a leader in precision products and efficiency solutions for electrified, hybrid and ICE propulsion systems. Amsted Automotive plays an integral role in global automatic transmissions designed and manufactured in North America, Europe, and Asia.

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OLX Group Reports Strong FY 2025 Results With 18% Revenue Growth and 61% Profit Uplift Year-on-Year
OLX Group Reports Strong FY 2025 Results With 18% Revenue Growth and 61% Profit Uplift Year-on-Year

Business Wire

timean hour ago

  • Business Wire

OLX Group Reports Strong FY 2025 Results With 18% Revenue Growth and 61% Profit Uplift Year-on-Year

AMSTERDAM--(BUSINESS WIRE)--OLX Group ('OLX'), a global online classifieds leader and subsidiary of Prosus N.V., has reported strong financial results in the fiscal year 2025 1. The company generated revenues of US$777 2 million, an 18% year-on-year increase. Adjusted EBIT 3 (aEBIT) amounted to US$270 2 million, representing an increase of 61% (in local currency) over the prior year, while aEBIT margin was 35%, a significant expansion from 25% in FY24. The strong performance was primarily driven by its core categories Motors, Real Estate, and Jobs, in its key high-growth markets. In addition, the company continues to leverage its strong investments in product, with emphasis on enhancing the customer and user experience through state-of-the-art AI solutions. Main categories essential for driving growth and profitability Across its platforms, OLX witnessed strong user and customer engagement. OLX platforms, operating nine brands in nine markets worldwide, hosted nearly 64 million active listings daily, with 29 million monthly app users, highlighting the platform's impressive scale and impact. In particular, Motors, Real Estate, and Jobs categories performed exceptionally well: Motors: Achieved 24% revenue growth year-on-year, driven by innovative dealer tools and trust-building features like vehicle history reports and ratings. OLX continues to make buying and selling cars safer and more efficient. Real Estate: Delivered 23% revenue growth year-on-year, supported by product enhancements like unified platform rollout, redesigned mobile app, and tools optimised for agents. Investment in tools for professionals is unlocking significant growth potential. Jobs: OLX strengthened its presence in key blue and grey collar job markets across Poland, Romania, and Ukraine, with investments in employer branding features and AI-powered matching capabilities. OLX Jobs continues to accelerate and expand rapidly. Christian Gisy, CEO of OLX Group, said: 'I am very happy with our financial performance in the fiscal year 2025. We are seeing strong, profitable growth momentum in all of our key categories and markets. This proves that we made the right strategic shift towards a stronger focus on our core B2C businesses Motors, Real Estate, and Jobs - in selected, high-growth markets. Our investments in Artificial Intelligence are starting to pay off and will enable us to leverage our potential for even more profitable growth in the future. Looking ahead, we are more than confident to achieve a sustained revenue growth of over 20%, with profit margins approaching 50% and more.' Fabricio Bloisi, CEO of Prosus Group, said: 'OLX has delivered another set of outstanding results, further demonstrating its position as a classifieds leader across multiple markets. As a core part of our lifestyle ecommerce ecosystem, OLX is making buying and selling simpler, smarter, and more trusted for millions of users. The team's clear strategy and performance demonstrate the company's momentum and I'm excited to see what Christian and the team achieve next.' Pioneering in AI to improve customer and user experience and accelerate growth With its focus on attractive, high-margin categories in fast-growth markets, data and AI-driven value-adding services for its customers, OLX has a strong strategy in place to further accelerate its growth trajectory. To this end, OLX continuously invests in state-of-the-art AI solutions. In the past year, OLX invested over US$ 17M to further strengthen AI capabilities, tools, and talent base. On the back of the work of OLX's data and AI teams, the company has deployed to date 55 AI use cases across the business, enhancing personalisation, trust, and automation both for users and professional customers. From smarter search, platform moderation, and fraud protection, AI will continue to be a crucial pillar of OLX's growth strategy. About OLX Group OLX is a global marketplace leader that builds platforms to facilitate trade. Serving tens of millions of people around the world every month, OLX exists to enable buyers to afford things they would not usually buy as new, and to enable sellers to make extra cash and generate their own revenue stream. OLX is the classifieds business of Prosus, one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. For more information on OLX, visit For more on Prosus, its companies and investments, visit 1 2 Includes financial results from OLX Autos business which was carved out but included in our continuous operations due to IFRS requirement 3 Adjusted EBIT = represents operating profit/loss from continuing operations adjusted to include lease interest paid and exclude the amortisation of intangible assets, retention option expenses and other losses/gains linked to business combinations and acquisitions, due diligence and legal fees, fair-value adjustments of financial instruments and/or impairment losses.

Crash dummies used in car safety tests are still modeled after men despite higher risks for women

timean hour ago

Crash dummies used in car safety tests are still modeled after men despite higher risks for women

Maria Weston Kuhn had one lingering question about the car crash that forced her to have emergency surgery during a vacation in Ireland: Why did she and her mother sustain serious injuries while her father and brother, who sat in the front, emerge unscathed? 'It was a head-on crash and they were closest to the point of contact," said Kuhn, now 25, who missed a semester of college to recover from the 2019 collision that caused her seat belt to slide off her hips and rupture her intestines by pinning them against her spine. "That was an early clue that something else was going on.' When Kuhn returned home to Maine, she found an article her grandma had clipped from Consumer Reports and left on her bed. Women are 73% more likely to be injured in a frontal crash, she learned, yet the dummy used in vehicle tests by the National Highway Traffic Safety Administration dates back to the 1970s and is still modeled almost entirely off the body of a man. Kuhn, who is starting law school at New York University this fall, took action and founded the nonprofit Drive US Forward. Its aim was to raise public awareness and eventually encourage members of Congress to sign onto a bill that would require NHTSA to incorporate a more advanced female dummy into its testing. The agency has the final word on whether cars get pulled from the market, and the kind of dummy used in its safety tests could impact which ones receive coveted five-star ratings. 'It seems like we have an easy solution here where we can have crash test dummies that reflect an average woman as well as a man,' Sen. Deb Fischer, a Nebraska Republican who has introduced the legislation the past two sessions, told The Associated Press. Senators from both parties have signed onto Fischer's 'She Drives Act,' and the transportation secretaries from the past two presidential administrations have expressed support for updating the rules. But for various reasons, the push for new safety requirements has been moving at a sluggish pace. That's particularly true in the U.S., where much of the research is happening and where around 40,000 people are killed each year in car crashes. The crash test dummy currently used in NHTSA five-star testing is called the Hybrid III, which was developed in 1978 and modeled after a 5-foot-9, 171-pound man (the average size in the 1970s but about 29 pounds lighter than today's average). What's known as the female dummy is essentially a much smaller version of the male model with a rubber jacket to represent breasts. It's routinely tested in the passenger seat or the back seat but seldom in the driver's seat, even though the majority of licensed drivers are women. 'What they didn't do is design a crash test dummy that has all the sensors in the areas where a woman would be injured differently than a man,' said Christopher O'Connor, president and CEO of the Farmington Hills, Michigan-based Humanetics Group, which has spent more than a decade developing and refining one. A female dummy from Humanetics equipped with all of the available sensors costs around $1 million, about twice the cost of the Hybrid used now. But, O'Connor says, the more expensive dummy far more accurately reflects the anatomical differences between the sexes — including in the shape of the neck, collarbone, pelvis, and legs, which one NHTSA study found account for about 80% more injuries by women in a car crash compared to men. Such physical dummies will always be needed for vehicle safety tests, and to verify the accuracy of virtual tests, O'Connor said. Europe incorporated the more advanced male dummy developed by Humanetics' engineers, the THOR 50M (based on a 50th percentile man), into its testing procedures soon after Kuhn's 2019 crash in Ireland. Several other countries, including China and Japan, have adopted it as well. But that model and the female version the company uses for comparison, the THOR 5F (based on a 5th percentile woman), have been met with skepticism from some American automakers who argue the more sophisticated devices may exaggerate injury risks and undercut the value of some safety features such as seat belts and airbags. Bridget Walchesky, 19, had to be flown to a hospital, where she required eight surgeries over a month, after a 2022 crash near her home in Sheboygan, Wisconsin, that killed her friend, who was driving. While acknowledging the seat belt likely saved her life, Walchesky said some of the injuries — including her broken collarbone — were the result of it pinning her too tightly, which she views as something better safety testing focused on women could improve. 'Seat belts aren't really built for bodies on females,' Walchesky said. 'Some of my injuries, the way the force hit me, they were probably worsened.' The Alliance for Automotive Innovation, an industry trade group, said in a statement to the AP that the better way to ensure safety — which it called its top priority — is through upgrades to the existing Hybrid dummy rather than mandating a new one. 'This can happen on a faster timeline and lead to quicker safety improvements than requiring NHTSA to adopt unproven crash test dummy technology,' the alliance said. Humanetics' THOR dummies received high marks in the vehicle safety agency's early tests. Using cadavers from actual crashes to compare the results, NHTSA found they outperformed the existing Hybrid in predicting almost all injuries — including to the head, neck, shoulders, abdomen and legs. A separate review by the Insurance Institute for Highway Safety, a research arm funded by auto insurers, was far more critical of the dummy's ability to predict chest injuries in a frontal crash. Despite the vast expansion in the number of sensors, the insurance institute's testing found, the male THOR dummy was less accurate than the current Hybrid dummies, which also had limitations. 'More isn't necessarily better,' said Jessica Jermakian, senior vice president for vehicle research at IIHS. 'You also have to be confident that the data is telling you the right things about how a real person would fare in that crash." NHTSA's budget plan commits to developing the female THOR 5F version with the ultimate goal of incorporating it into the testing. But there could be a long wait considering the THOR's male version adopted by other countries is still awaiting final approval in the U.S. A 2023 report by the Government Accountability Office, which conducts research for Congress, cited numerous 'missed milestones' in NHTSA's development of various crash dummy enhancements — including in the THOR models. Kuhn acknowledges being frustrated by the slow process of trying to change the regulations. She says she understands why there's reluctance from auto companies if they fear being forced to make widespread design changes with more consideration for women's safety. 'Fortunately, they have very skilled engineers and they'll figure it out,' she said.

Naspers Accelerates Growth and Profitability, With 18X Improvement in Ecommerce Adjusted EBIT
Naspers Accelerates Growth and Profitability, With 18X Improvement in Ecommerce Adjusted EBIT

Business Wire

time2 hours ago

  • Business Wire

Naspers Accelerates Growth and Profitability, With 18X Improvement in Ecommerce Adjusted EBIT

CAPE TOWN, South Africa--(BUSINESS WIRE)--Naspers Limited (Naspers) (JSE: NPN) delivered a strong performance during a transformative year, as we build the leading lifestyle ecommerce company in Latin America, Europe and India, driven by AI and innovation. Ecommerce revenue growth of 21%, to US$7.0bn. Adjusted EBIT increased 18 times to US$430m. iFood aEBIT grew 178%, OLX aEBIT up 61% and eMAG achieved profitability. Free cash flow improved by US$263m, excluding Tencent. US$7.8bn 1 invested to strengthen our regional ecosystems and expand our portfolio of AI-native startups. Buybacks returned over US$50bn 2, driving 15% NAV per share accretion. Fabricio Bloisi, Group CEO, Prosus and Naspers said: 'Naspers is rapidly transforming into an operating technology company, focused on lifestyle ecommerce, and powered by innovation and collaboration. This past year, we announced two significant deals to strengthen our regional ecosystems. We completed the acquisition of Despegar in May 2025 and are already integrating its products into iFood's Clube membership. We are making good progress with the purchase of Just Eat which will create a new AI-powered tech champion in Europe. 'I believe that truly great companies are shaped by their culture. Through 'The Prosus Way', we've implemented a cultural model that empowers our teams to deliver exceptional customer experiences through discipline, innovation and adopting an AI-first mindset. In the face of unprecedented technological disruption, we are now more connected and innovative than ever before. I'm confident that our enhanced culture and ecosystem approach will fuel our journey to create the next US$100bn in value.' Nico Marais, Group CFO, Prosus and Naspers, commented: 'The Group has delivered a strong financial performance over the past year, with topline growth in our operating businesses at double the rate of our peers. Ecommerce profitability has improved meaningfully from US$24m in FY24, to aEBIT of US$430m. We expect this momentum to continue, and to add at least the same level of incremental aEBIT in FY26. Free cash flow excluding the Tencent dividend improved by US$263m. As our financial position strengthens, we're able to share more with our shareholders, and have proposed a 100% increase in the Prosus dividend, to €0.20. The Group's disciplined capital allocation and strong balance sheet positions us well to execute on our ecosystem strategy.' Phuthi Mahanyele-Dabengwa, South Africa CEO and Executive Director, Naspers, commented: 'Our South African businesses have delivered strong results while making everyday life simpler, more connected, and more accessible. I'm proud of the progress we've made in building digital platforms that meet local needs, support small businesses, and create new digital career pathways. This is evident in the continued growth of the Takealot Group, which has grown GMV 26-fold over the past nine years to become South Africa's leading ecommerce platform. It's also evident in our two leading classifieds platforms — Property24 and AutoTrader — which continue to serve millions of users with trusted, market-leading services. As South Africa continues its journey of economic renewal, Naspers remains a committed long-term partner in building a more inclusive, innovative digital economy.' Peer-leading growth and accelerating profitability across Ecommerce portfolio Food Delivery: iFood delivers world-class performance, exceeding growth and profitability targets and drives innovation and ecosystem expansion iFood delivered strong top line growth, with Gross Merchandise Value (GMV) up 32%, orders up 29% and revenue increasing 30%. iFood's core food delivery business grew aEBIT by 71% to US$306m, improving aEBIT margin to 27%; performance driven by higher ad revenues, increased order frequency and retention driven by iFood's Clube loyalty programme, and investments in its merchant platform. iFood's growth initiatives grew revenue by 34%, driven by strong performance in its groceries marketplace and credit businesses. Overall, iFood achieved a record profit, with aEBIT of US$226m, up 178%. Delivery Hero grew GMV by 8% for FY24, with revenue up 24%, boosting profitability to an adjusted EBITDA of €693m (from €254m in FY23). From January to December 2024, Swiggy grew Gross Order Value (GOV) by 29%, while adjusted EBITDA losses reduced to US$182m, from US$261m in the prior year. In Q125, Swiggy delivered GOV growth of 40% year-on-year, and quick commerce GOV growth of 101% year-on-year, with 316 new dark stores added in the quarter. 3 All growth percentages shown here are in local currency terms, excluding the impact of acquisitions and disposals (M&A), unless otherwise stated. 4 Nominal basis Expand Classifieds – OLX Group: Strong performance, with a significant jump in profitability and expanding margins OLX consolidated revenue grew 18%, with standout performances by motors and real estate verticals. Motors and real estate grew revenue 24% and 23% respectively, through improved monetisation, innovative product development and new trust-building initiatives within motors, and product enhancements within real estate. aEBIT accelerated by 61% to US$270m, with aEBIT margin up 10pp, to 35%. Payments & Fintech – PayU: Strong topline growth and improving profitability, despite challenging market conditions India payments TPV 5 increased by 17%, and revenues by 14%; aEBIT loss of US$12m reflects increased competition, resulting in lower take rates. India payments achieved breakeven in H2. India credit grew its loan book by 19% and revenues by 63%; aEBIT loss of US$32m impacted by higher costs and increased consumer loan book losses. Iyzico grew revenues 87% to US$288m, while aEBIT of US$18m at a margin of 6% reflected rising interest rates and investments in strategic growth initiatives. GPO revenues up 23% to US$340m, with aEBIT of US$12m; sale of GPO's LatAm and Africa operations completed in March 2025, while GPO Europe sale is ongoing. Overall, PayU's aEBIT losses improved by >100% to US$11m. Etail: eMAG achieved overall profitability target for FY25 and Takealot grew strongly, cementing its leadership position through innovation and customer focus. eMAG grew strongly with GMV up 9%, and revenue up 12% to US$2.5bn. eMAG aEBIT improved by US$40m to US$14m; includes one-off costs in Hungary in H1. eMAG improved performance due to good growth in Romanian etail, and emerging logistics and grocery businesses. Takealot Group grew GMV by 13% and revenue by 15%, driven by investments in logistics, enhanced customer offerings and the TakealotMore subscription service. orders increased 15%, GMV up 13% and revenues grew 17%, with growth underpinned by expansion in emerging product categories. Mr D: Revenue grew 8%, with an 81% increase in groceries GMV and an improved aEBIT of US$4m, despite tough trading conditions. Please note: Group results are shown on a consolidated basis from continuing operations, which reflect all majority owned and managed businesses. All OLX Autos business units are classified as discontinued operations, in line with IFRS disclosures. All growth percentages shown here are in local currency terms, excluding the impact of acquisitions and disposals (M&A), unless otherwise stated. Growth percentages shown here for all non-financial key performance indicators compare FY25 to FY24. Expand For full details of the Group's results, please visit 5 Total Payment Volume Expand About Naspers Established in 1915, Naspers has transformed itself to become a global technology company and one of the largest technology investors in the world. Through Prosus, the group is building the world's leading lifestyle ecommerce brands, across Europe, India and Latin America, unlocking an AI-first world for our 2 billion customers. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus. In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Autotrader, Property24 and PayU, in addition to Media24, South Africa's leading print and digital media business. Naspers has a primary listing on the Johannesburg Stock Exchange ( and a secondary listing on the A2X Exchange ( in South Africa and a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the US. For more information, please visit Naspers Labs In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa's unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.

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